Qatar Stock Exchange Lists the First ETF in Qatar

Doha, March 05 (QNA) - QE Index ETF today has become the first Exchange Traded Fund (ETF) listed on Qatar Stock Exchange under the symbol "QETF", it is the first ETF in Qatar and the largest ETF in the GCC. The Fund will track the QE Index that measures the price performance of the top 20 largest and most liquid companies on Qatar Stock Exchange. CEO of the Qatar Stock Exchange Rashid Ali Al Mansoori said: "Great thought and effort has gone into the development of an ETF market at Qatar Stock Exchange and a listing based on our main index was always going to be a proud moment. There's no denying the popularity of ETFs globally and were excited at the new trading opportunities the ETF provides to our investors," Al Mansoori added: "Given the strong outlook for Qatar as an economy, the QETF is a key product offering for us and we look forward to the success of this ETF." He pointed out during a press conference that the target is to list the (QETF) index Masraf Al Rayan during this month and to reach final decisions on this matter, it is also expected that Qatar Stock Exchange will list during the second half of this year other companies, as well as the readiness of Qatar Stock Exchange in terms of technical and organizational aspect to list some small and medium enterprises, especially that there is a group of companies that have requests in this regard and are under procedure, and it is intended to list them during the current year. HE Chairman of the Board of Doha Bank, Sheikh Fahd bin Mohammad bin Jabor Al-Thani, expressed his gratitude that Doha Bank is the first local bank in Qatar to issue this product, which is expected to have a significant impact on Qatar Stock Exchange and the Qatari economy. He noted that this fund is an opportunity for investors, especially as it will achieve positive results for the benefit of all. For her part, HE Chairperson of Amwal, Sheikha Hanadi Nasser bin Khaled Al-Thani, commented: "Amwal is proud to have the (QETF) as part of its product portfolio. Passive investment strategies are playing a bigger role for institutional investors looking for emerging market exposure as part of their global asset allocation." She also expressed the hope that (QETF) Fund's investments will reach 2 billion riyals in the coming years. CEO of Doha Bank Dr. R. Seetharaman said: "As a leading financial institution in the region, Doha Bank looks to set the industry standard and continually explores new financial instruments that drive maximum value for investors not only locally but globally," "Through our collaboration with Amwal and The Group Securities, we believe the (QETF) holds immense promise and opens a gateway to the Qatari market for global investors. We expect this to be the first of many future products focused on Qatar." he further added. It is worth mentioning that (QETF), established by Doha Bank and managed by Amwal, already surpasses the size of any other ETF in the GCC. The Fund will have among the lowest expense ratios of any MENA equity fund globally and will make annual distributions to unit holders based on income received from the underlying securities. Standard Chartered Bank will act as custodian and fund administrator, and the Group Securities, as the QETF's Liquidity Provider will support trading by making competitive "two-way" pricing, allowing investors to trade (QETF) with ease. The Group will maintain the supply of ETF units and ensure the ETFs price is in line with the value of its underlying index portfolio. (QNA)